Class Notes (837,623)
Canada (510,370)
Langara College (1,809)
Economics (37)
ECON 2210 (30)
M.Yu (30)
Lecture

Diminishing marginal value.docx

2 Pages
83 Views
Unlock Document

Department
Economics
Course
ECON 2210
Professor
M.Yu
Semester
Fall

Description
Diminishing marginal value - The more you have of anything, the less you are willing to give up to get more of it - Diminishing marginal value: the maximum one is willing to sacrifice at the margin for a good per unit of time, declines the more one has of that good – other things held constant - “Maximum one is willing to sacrifice”: MV falls the more you have - “Per unit of time”: talks about rate of consumption and not total amount
More Less

Related notes for ECON 2210

Log In


OR

Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


OR

By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.


Submit